Three keys to analytics success in the new normal
Businesses now have unprecedented access to data and analytics to help in decision-making and pivoting to rapid change.
Sanjay Srivastava, Chief Digital Officer of Genpact, provides expert insight gleaned from working with Fortune 500 companies into the three keys to analytics success:
- AI-powered analytics that can reshape and drive new business models.
- Humans-in-the-loop to complement AI and bring judgement to decisions.
- Experience as the foundational core for any analytics project.
Asia-Pacific region optimism about recovery - digital transformation is key
A HP research study amongst 1,600 businesses in the Asia-Pacific region reveals optimism about recovery post-COVID and suggests that digital transformation will be a key part of the revival.
Completed in June 2020, the study surveyed businesses in Australia, India, Indonesia, Japan, South Korea, Singapore, Thailand, and Vietnam.
- Companies most confident of bouncing back place high importance on digital adoption. Across the region, nearly 60% view digital adoption as very important or essential.
- Growth projections are significantly adjusted post pandemic. India and Vietnam are the most confident about post pandemic growth and Singapore, Japan and South Korea are least positive.
- Skills are identified as an issue: The pandemic amplified the lack of digital-first mindsets and skills, affecting nearly half (44%) of respondents.
COVID-19 has increased awareness and commitment to sustainable shopping.
A recent study of 7,500 consumers and 750 companies from nine countries reveals that 79% of buyers are rethinking their buying behaviour and place more value on social responsibility, inclusiveness and environmental friendliness.
Sustainability aspects influence the consumption behaviour of more than half of the population today. The study showed that 53% switch to lesser known brands if they are more sustainable. In addition 68% are increasingly considering local products that they consider safer and more sustainable.
Retailers and manufacturers have now internalised the advantages that sustainability has for their customer relationships. 77% say that sustainability leads to more customer loyalty, while 63% confirm that it increases brand sales.